October 13, 2025

Markets

U.S. stock futures rose Monday, rebounding from Friday’s sell-off after President Donald Trump said trade relations with China “will all be fine.”

That optimism followed Trump’s Truth Social post on Sunday, which suggested he may not follow through on his threat to impose a “massive increase in tariffs” on China — the very warning that reignited trade war fears and wiped out roughly $2 trillion in market value on Friday.

Vice President JD Vance echoed that tone over the weekend, telling Fox News the U.S. would negotiate if Beijing is “willing to be reasonable,” though he added that America still holds “far more cards” if not.

Those comments could give investors confidence to step back into the market after Friday’s heavy sell-off, especially in technology — the sector hit hardest. Many tech names depend on rare earth materials from China for semiconductors, EVs, and other advanced goods.

Earnings season kicks off this week, led by the financials: Citigroup, Goldman Sachs, Wells Fargo, JPMorgan Chase, Bank of America, and Morgan Stanley are all set to report Tuesday and Wednesday, followed by a wave of regional banks.

The bond market remains closed Monday in observance of Columbus Day.

Portfolio

As we’ve consistently said, the only short-term risk remains headline risk, while the broader trend stays exceptionally strong. The speed of today’s rebound from Friday’s decline is remarkable.

The irony of this is that many traders wait for a pullback to enter, yet when it comes — like Friday’s — fear keeps them sidelined. That’s why most end up chasing performance later. That chase hasn’t even begun yet, but it’s coming as we move deeper into Q4.

Our current holdings — CDZI and TSLL — are all roaring back. We’ll stay patient over the next few sessions, anticipating more noise around the upcoming Trump–Xi meeting and early earnings positioning.

From Friday’s price action, we’re already spotting new leaders emerging. Once flow confirms, we’ll be back in full attack mode. It’s just the start of Q4, and this runway could be something special.